UTI AMC Gets Approval From SEBI To Introduce IPO

In any case, the UTI AMC gets endorsement from the market controller. The Benefit the executives organization intends to raise over Rs. 3,000 cr from this Initial public offering.

According to the draft plan, India's biggest AMC as far as all out Assets under management contains the offer of 3,89,87,081 eq shares held by existing investors. Besides, from its all out offers, SBI and LIC and Weave offered their 1,04,59,949 value offers to sell. Additionally, PNB and T Rowe Value Global hoping to offload 38,03,617 value shares.

As indicated by the market sources, the benefit the board organization intends to raise over Rs 3,000 cr. In December 2019, the UTI AMC presented its draft plan with the Protections and Trade Leading body Of India. From that point onward, the organization has gotten endorsements on June sixteenth.



Besides, if any organization needs to present its Initial public offering or follow-on open offer, it should required endorsements from SEBI. Furthermore, in the UTI AMC stake, the State Bank of India, PNB, and Sway held 18.5% of stake each. Likewise, the T Rowe Value US organization holds 26% of the UTI Asset Management Company stake.

Be that as it may, the Kotak Mahindra Capital, Hub Capital, CitiBank, DSP Merrill Lynch, ICICI Protections, JM Money related, and SBI Capital Markets go about as advertisers for this organization. The organization needs to list its offers on BSE and NSE.

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